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530 S San Jose Ave, Covina, CA 91723
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530 S San Jose Ave Covina, CA 91723

$2,670,000 Sold Price as of 08/08/2023
  • 10 Beds
  • 9 Baths
  • 7,222 Sq.Ft.
Sold
$2,670,000 Sold Price as of 08/08/2023 Refinance Your Mortgage
Map preview of 530 S San Jose Ave, Covina, CA 91723

Property Overview: 530 S San Jose Ave Covina, CA has 10 bedrooms, 9 bathrooms, 7,222 living square feet and 16,852 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an incredible opportunity to acquire this trophy property from the original owner. This condo quality apartment complex features eight units, including six spacious 1-bedroom/1-bathroom units (approx. 750 sq ft each) and two expansive 2-bedroom/1.5-bathroom townhomes with attached two-car garages (approx. 1,200 sq ft each). The vast 16,852 sq ft lot provides ample area for a potential for up to four additional ADUs through garage conversion with 7 open parking spaces to spare. With a newer (2016) roof, laundry hookups, patio/balcony/backyard spaces, central air, and a cement driveway, this low-maintenance gem is nestled in a residential neighborhood. Located minutes away from Eastland Shopping Plaza, Downtown Covina, Ikea, LA Fitness, Covina Metro Link station, and freeway access, this highly desirable location appeals to renters seeking convenience and an exceptional lifestyle. The last increase in rents was in Aug. 2022. Buyer to cooperate with seller on their 1031 exchange. Drive by only. PLEASE DO NOT ENTER PROPERTY.

Listed by Matt Cuong Ly | BRE #01441481 | Coldwell Banker Realty
Last checked: 10 minutes ago | Last updated: August 11th, 2023 | Source CRMLS | DOM: 3

Home details

Lot Sq. Ft
16,852
HOA Dues
$0/mo
Year built
1988
Garage
10 Car
Property Type:
Apartment
Status
Sold
MLS#
AR23103332
City
Covina
County
Los Angeles
Time on Site
456 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 3
  • # of Electric Meters: 9
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,275
  • Total Rent: $2,275
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,415
  • Total Rent: $1,415
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,775
  • Total Rent: $1,775
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,415
  • Total Rent: $1,415
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,415
  • Total Rent: $1,415
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,475
  • Total Rent: $1,475
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,275
  • Total Rent: $2,275
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,475
  • Total Rent: $1,475
  • Pro Forma/Market Rent: $1,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.5%
  • Gross Rent Multiplier: 16.61
  • Gross Scheduled Income: $162,240
  • Net Operating Income: $0
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 530 S San Jose Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • See Remarks
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Information
  • Roof: Composition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 10
  • # of Parking Spaces: 17
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Has View
  • View: Mountain(s)
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 8445024047
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Natural Gas Available
Location / Neighborhood
Location Information
  • Directions: Rowland St. and San Jose Ave.
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Covina Agent

Sale History for 530 S San Jose Ave

Last sold for $2,670,000 on August 8th, 2023

  • August, 2023

  • Aug 8, 2023

    Date

    Sold

    CRMLS: AR23103332

    $2,670,000

    Price

  • Jun 21, 2023

    Date

    Active

    CRMLS: AR23103332

    $2,695,000

    Price

Tax History for 530 S San Jose Ave

Assessed Value (2020): $1,244,859
Year Land Value Improved Value Assessed Value
2020 $282,606 $962,253 $1,244,859

Home Value Compared to the Market

This property vs the competition

530 S San Jose Ave sold on August 8, 2023 for 244.05% higher than the current median sold price for the city of Covina which is $783,315. The median sold price per/sqft for Covina is $502 and this home is sold at $373.17 per/sqft which puts the price per square foot 25.66% lower than the current median sale per square foot for the city of Covina.

About 530 S San Jose Ave

Detailed summary of property

530 S San Jose Ave is a apartment that recently sold in Covina, CA 91723. This apartment offered 10 bedrooms, 9 bathrooms, roughly 7,222 living square feet, and sits on an approximately 16,852 square foot lot. 530 S San Jose Ave was first listed on ArdentRealEstateGroup.com on June 21, 2023. The homeowner sold the property for $2,670,000. Home in Covina are selling for a median price of $783,315 and a median price per square foot of $502. Based on Ardent Real Estate Group's Covina Market Data, this home is sold 244.05% higher than the current median priced home. Local homes that are currently for sale include 5243 Huntington Dr, 3925 Barrett Rd and 402 W Fairway Dr. While the average home in Covina, CA is selling in 52 days, 530 S San Jose Ave has a days on market of 3 days. There are currently 104 homes for sale in the Covina real estate market and 75 of them are single family homes while 19 of them are condos and 10 are townhomes. For more information on this home for sale at 530 S San Jose Ave Covina, CA 91723 contact Ardent Real Estate Group and we will put you in touch with one of our Covina agents.

Public Facts for 530 S San Jose Ave

Public county record property details
Beds
10
Baths
10
Year built
1988
Sq. Ft.
7,222
Lot Size
16,852
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
8445-024-047

The source for these homes facts are from public records.

91723 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$725,000
Median List Price/Sq.Ft.
$505
Median Sold Price
$770,000
Median Sold Price/Sq.Ft.
$490
Total Inventory
20
Median Sale to List Price %
100%
Avg Days on Market
34
Loan Type
Conventional (57.14%), FHA (14.29%), VA (0%), Cash (14.29%), Other (14.29%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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